Milwaukee has been the league’s best team this season and faces a truly remarkable amount of uncertainty this summer as a huge chunk of their starting lineup and rotation face free agency this summer. About a week ago, the Bucks and starting point guard Eric Bledsoe stabilized one piece of that complicated puzzle by agreeing to a four-year extension worth $70 million but only $3.9 million of that final year salary is guaranteed. As is often the case, an agreement like this should be evaluated from each side separately since they had different motivations and leverage in these negotiations.

The Deal For Bledsoe

In effect, Bledsoe signed his final big free-agent contract about four months early. The athletic guard turns 30 early next season so this four-year deal likely takes Bledsoe through his remaining years as a starter depending on his health and how his game ages.

The first thought is likely that Bledsoe could have gotten significantly more as a free...